Forager Capital offers to buy Quipt Home Medical for $3.10 per share

BIRMINGHAM - Forager Capital Management has submitted a proposal to acquire all outstanding shares of Quipt Home Medical Corp. (NASDAQ:QIPT; TSX:QIPT) for $3.10 per share in cash, according to a press release statement issued Monday. The healthcare equipment company, with a market capitalization of $93.6 million and trailing twelve-month EBITDA of $41.1 million, currently shows a "GOOD" financial health score according to InvestingPro analysis.

Forager, which currently holds a 9.7% beneficial ownership stake in Quipt, stated that its acquisition proposal is not subject to any due diligence or financing conditions and could be executed immediately.

The offer represents a 120% premium to Quipt’s share price of $1.41 at close on May 19, 2025, which was the trading day before Forager’s previous proposal was made public.

The investment firm indicated it is prepared to improve its offer if Quipt’s board engages in constructive discussions. The proposal includes a go-shop provision that would allow Quipt’s board to actively seek superior offers following the execution of definitive agreements.

Forager Capital said the full text of the acquisition proposal will be filed as an exhibit to an amended Schedule 13D.

Quipt Home Medical Corp. is publicly traded on both the Nasdaq and Toronto Stock Exchange. The company had not issued a public response to the proposal as of Monday.

In other recent news, Quipt Home Medical Corp reported its third-quarter earnings for fiscal year 2025, which showed a larger-than-expected net loss and a slight revenue shortfall. The company posted an earnings per share (EPS) of -$0.07, falling short of the forecasted -$0.0357. Revenue reached $58.3 million, slightly under the anticipated $59.35 million. These results highlight a challenging period for Quipt Home Medical as they work to meet financial expectations. Analysts had projected better performance, which was not met according to the latest earnings report. The announcement has drawn attention from investors and analysts, who are closely monitoring the company’s financial health. While there were fluctuations in the stock price following the announcement, the focus remains on the company’s future financial strategies.

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